basys

Background

Basys, founded in 2002 by Brad Oddo, is a privately held financial technology company headquartered in Lenexa, Kansas. The company specializes in delivering customized payment solutions, aiming to provide unparalleled customer service and innovative payment options tailored to the specific needs of its partners. Basys has established itself as a leader in the fintech industry, known for its commitment to excellence and a strong company culture.

Key Strategic Focus

Basys focuses on empowering businesses with seamless, secure, and scalable payment solutions. The company's core objectives include simplifying payment processing, enhancing customer service, and providing real-time data access to facilitate informed decision-making. Basys serves a diverse clientele, including software companies, banks, and business owners across North America, offering integrated software solutions and personalized support to meet the unique demands of each partner.

Financials and Funding

As of January 2025, Basys reported annual revenues in the range of $10 million to $50 million. The company has demonstrated consistent financial growth, reflecting its expanding user base and increasing adoption of its payment solutions.

Technological Platform and Innovation

Basys has developed several proprietary technologies to enhance payment processing:

• iQ Pro+: Launched on October 1, 2024, this is Basys' most advanced payment technology, operating entirely on its own proprietary rails.

• iQ Pro: A cloud-based payment processing platform designed to simplify payment processing, enhance customer service, and provide real-time data access.

• Basys iQ: An intuitively qualifying solution that allows merchants to automatically secure the best exchange rates for every transaction, setting a new standard for efficiency and savings in the industry.

Leadership Team

• Brad Oddo, Chief Executive Officer: Founder and CEO since 2002, Brad brings over 20 years of fintech expertise, focusing on fostering strong, lasting partnerships and guiding strategic decisions.

• Jen Alexander, Chief Operations Officer: With Basys since 2004, Jen oversees the development and execution of strategies to deliver exceptional products and services, upholding the company's commitment to personalized support.

• Chris Borchers, Chief Technology and Product Officer: Joined in 2021, Chris leads the Technology, Security, Application, and Product teams, ensuring seamless and secure operations, and was recognized with the Kansas City CIO ORBIE Award in 2023.

• Brian Cody, Chief Marketing Officer: With over 15 years of marketing experience, Brian shapes and executes Basys' marketing strategy, driving brand growth and market expansion.

• Edwin Martin, President: Oversees the day-to-day activities of Sales, Marketing, Operations, Product, and Technology teams, playing a pivotal role in driving growth and fostering strategic partnerships.

• Kenny Thompson, Executive Vice President of Partner Relations: With over 20 years of industry experience, Kenny leads Partner Development and Partner Relations teams, ensuring strong, collaborative partnerships.

Competitor Profile

• Market Insights and Dynamics: The payment processing industry is highly competitive, with numerous players offering a range of solutions to businesses of all sizes. The market is characterized by rapid technological advancements and a growing emphasis on secure, efficient, and user-friendly payment systems.

• Competitor Analysis: Basys competes with several major companies in the payment processing sector, including:

• Fiserv: A global leader in financial services technology, offering a wide range of payment processing solutions.

• Square: Known for its user-friendly point-of-sale systems and payment processing services tailored for small to medium-sized businesses.

• Stripe: Provides a comprehensive suite of payment processing APIs for online businesses.

• Elavon: Offers payment processing solutions with a focus on security and reliability.

• Worldpay: Delivers a broad range of payment processing services to businesses globally.

Basys differentiates itself through its commitment to personalized customer service, innovative proprietary technologies, and a strong company culture that emphasizes long-term partnerships.

Strategic Collaborations and Partnerships

Basys has formed strategic partnerships with various companies to enhance its service offerings and expand its market reach. Notable collaborations include:

• Surefire Local Enterprise: Partnered to provide integrated payment solutions for small businesses.

• City Wide Facility Solutions: Collaborated to enhance commercial maintenance services through streamlined payment processing.

• Bolt On Technology LLC: Teamed up to offer payment processing capabilities to auto repair shops.

Operational Insights

Basys' strategic considerations in relation to major competitors focus on leveraging its proprietary technologies and personalized customer service to maintain a distinct competitive advantage. The company's commitment to innovation and excellence has earned it recognition as one of the Financial Technology Report's Top 100 Companies and inclusion in the Inc. 5000 list.

Strategic Opportunities and Future Directions

Looking ahead, Basys aims to continue its growth trajectory by expanding its product offerings, enhancing technological capabilities, and strengthening strategic partnerships. The company's focus on delivering customized, secure, and efficient payment solutions positions it well to capitalize on emerging opportunities in the fintech industry.

Contact Information

• Website: www.basyspro.com

• LinkedIn: Basys LinkedIn Profile